Daily SPAC Update – March 5, 2026

by | Mar 5, 2026

Gundlach’s Bleichroeder II Does Quantum Deal with Pasqal. AParadise Target Enhanced Issues Investor Deck. Goldenstone Sets Extension Vote.

SPAC IPO UPDATE

SPAC IPO Count

Monthly IPOs (last 13 months)
Latest: 2•Prior: 27•MoM: -25
3
Mar ’25
12
Apr ’25
22
May ’25
10
Jun ’25
13
Jul ’25
8
Aug ’25
14
Sep ’25
14
Oct ’25
10
Nov ’25
22
Dec ’25
24
Jan ’26
27Peak
Feb ’26
2
Mar ’26
Source: Boardroom Alpha
 
New SPAC IPOs
DateTickerIssuerIPO Size
Mar 04GLEDGalaxyEdge Acquisition Corp$100M
Mar 04KCACKensington Capital Acquisition Corp. VI$200M
Feb 27ILLUILLUMINATION ACQUISITION CORP I$200M
Feb 26TRADAPEX TECH ACQUISITION INC$100M  $12M overallotment
Feb 26FVAVFORTRESS VALUE ACQUISITION CORP V$250M
Feb 26TRGSTRG LATIN AMERICA ACQUISITIONS CORP$200M
Feb 25MZYXMOZAYYX Acquisition Corp.$261M  $39M overallotment
Feb 24CTAACLEARTHINK 1 ACQUISITION CORP$150M  $0M overallotment
Source: Boardroom Alpha

DAILY SPAC UPDATE

SPAC DEALS ANNOUNCED
Mar 04 | BBCQ – Bleichroeder Acquisition Corp II + Pasqal

ABOUT Pasqal
Pasqal is a leader in the industrialization of neutral-atom quantum computing, transforming Nobel Prize-winning research into real-world solutions for industry, science, and governments. Since its founding in 2019, Pasqal has built high-performance quantum systems and cloud-ready software designed to address complex challenges in optimization, simulation, and artificial intelligence. Pasqal, headquartered in France, employs over 275 people and serves over 25 clients, including CMA CGM, OVHcloud, Thales, IBM (Pasqal is part of the IBM Quantum Network), Nvidia, and Sumitomo. Backed by more than $300 million in total funding from leading international investors, Pasqal is accelerating the adoption of scalable, high-performance quantum computing worldwide.

TRACKING THE QUANTUM COMPUTING SPACS
Over the past year, quantum computing has remained one of the few frontier technology sectors where SPACs continue to play a meaningful role in accessing public capital. While the “First Wave” of 2021–2022 established the initial cohort—led by IonQ (IONQ) and Rigetti (RGTI)—we are now in the midst of a significant “Second Wave” resurgence.

As shown in our Quantum Computing SPAC Tracker below, the pipeline has refilled with mature, high-valuation players. Most notable is this week’s $2.0B merger announcement between Pasqal (BBCQ) and Bleichroeder Acquisition Corp. II, which follows on the heels of IQM Quantum’s $1.8B deal in late February. These “Second Wave” deals are characterized by significantly lower redemption rates and higher PIPE commitments than their predecessors—exemplified by Infleqtion (INFQ), which successfully closed its merger with Churchill Capital Corp X last month with nearly 100% of its trust cash intact.

Quantum Computing SPAC Tracker
Company Ticker Moves & Milestones
PASQAL BBCQ
  • DA Signed (March 4, 2026): Entered definitive agreement with Bleichroeder Acquisition Corp. II at a $2.0B pre-money valuation. Includes $200M in committed convertible financing led by Inflection Point. 
XANADU QUANTUM CHAC
  • Vote Scheduled (March 19, 2026): Shareholder meeting set to approve merger with Crane Harbor Acquisition. Company held Analyst Day today (March 5) at Nasdaq MarketSite, targeting $500M in gross proceeds.  
IQM QUANTUM RAAQ
  • DA Signed (Feb 23, 2026): Merging with Real Asset Acquisition Corp at a $1.8B equity value. Expects to be the first European quantum company with a potential dual listing (US/Helsinki) by June 2026.  
INFLEQTION INFQ
  • Closed (Feb 13, 2026): Successfully completed merger with Churchill Capital Corp X. Began trading on the NYSE on Feb 17. Notably retained nearly 100% of trust cash (0.09% redemption rate). 
IONQ INC. IONQ
  • Sector benchmark. Recent activity focuses on commercial manufacturing of the Tempo system at its Seattle-area facility following the 2021 SPAC merger.
 

SPAC DEAL & EXTENSION VOTES SET
GDST – Goldenstone Acquisition Ltd * EXTENSION VOTE SET: Mar 17, 2026 * trust $13.03

OTHER SPAC NEWS
IVCBF – INVESTCORP EUROPE ACQUISITION CORP I * Auditor Change
CHAC – CRANE HARBOR ACQUISITION CORP * Confirmed Redemption Value * trust $10.33
BBCQ – BLEICHROEDER ACQUISITION CORP II * Investor Deck
APAD – APARADISE ACQUISITION CORP * Investor Deck
BBCQ – BLEICHROEDER ACQUISITION CORP II * Merger Agreement
CHAC – CRANE HARBOR ACQUISITION CORP * Media Transcript
HYAC – HAYMAKER ACQUISITION CORP 4 * Voting Agreement

SEPARATE WARRANTS/RIGHTS
Mar 09: FG IMPERII ACQUISITION CORP (FGII)
Mar 09: XFLH CAPITAL CORP (XFLH)
Mar 02: SPRING VALLEY ACQUISITION CORP IV (SVIV)

SPAC Executive & Director Moves
CompanyTickerMoves
STELLAR V CAPITAL CORP (CAYMAN ISLANDS)SVCC
  • Michael Braunstein has been elected as a class II director of Stellar V Capital Corp., serving on multiple committees following the passing of his father, Harry Braunstein.  (view source)
Source: SEC EDGAR filings via Boardroom Alpha

SPAC MOVERS

YESTERDAY’S TOP SPAC GAINERS
CompanyTickerChangePriceStage
CANTOR EQUITY PARTNERS II INCCEPT 1.8%$ 11.21Announced
AMERICAN EXCEPTIONALISM ACQUISITION CORP AAEXA 1.6%$ 11.18Pre-Deal
EUREKA ACQUISITION CORPEURK 0.9%$ 11.20Announced
CAMBRIDGE ACQUISITION CORPCAQ 0.7%$ 10.02Pre-Deal
BAYVIEW ACQUISITION CORPBAYA 0.7%$ 11.92Announced
 
YESTERDAY’S TOP SPAC LOSERS
CompanyTickerChangePriceStage
HORIZON SPACE ACQUISITION II CORPHSPT -11.1%$ 10.55Announced
AIMEI HEALTH TECHNOLOGY CO LTDAFJK -10.4%$ 30.00Announced
RISING DRAGON ACQUISITION CORPRDAC -7.4%$ 4.61Announced
DT CLOUD STAR ACQUISITION CORPDTSQ -2.0%$ 10.85Announced
PERCEPTIVE CAPITAL SOLUTIONS CORPPCSC -1.7%$ 11.75Pre-Deal
Source: Boardroom Alpha market data

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